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🍹Mix It Up with Sippin: Discovering the Secrets to Perfect Instant Powdered Mixers

🍹Mix It Up with Sippin: Discovering the Secrets to Perfect Instant Powdered Mixers

Today: An Interview With Ayushi; The Dark Side of Success; Tech Industry Layoffs.

Chai Sip
May 07, 2023

ISSUE #066

☕ Good Morning! Sippers,

Meet the founder of Sippin’, India’s first instant powdered mixer brand that allows anyone to make cocktails and mocktails anywhere, anytime, within seconds.

In today’s Issue 📬 :

Get Sippin: An Interview With Ayushi.
The Dark Side of Success.
Tech Industry Layoffs.

SIP WORTHY

Let’s get Sippin: How Ayushi started Sippin

Can you please introduce yourself and provide information about the business you launched?

I graduated from New York University (NYU) in 2017 with a major in Economics and minors in Math and Business. I worked as a Corporate Finance Analyst at Morgan Stanley in New York for 2 years before deciding to return to India in 2019. I joined my family business of tea manufacturing, which gave me business acumen and insight into the beverage industry of India.

I soon saw a gap in the industry and decided to grab the opportunity to start Sippin’ during the pandemic. I’m a classically trained Odissi dancer, captained a Bollywood fusion dance team at NYU, I play the flute, and like to learn about astrophysics in my spare time.

Sippin’ is India’s first instant powdered mixer brand, that allows one to make cocktails/mocktails anywhere, anytime, within seconds. All one has to do is add a sachet of their favorite Sippin’ flavor to soda/water for a mocktail, or spike with liquor to make a cocktail.

Sippin’ comes in 8 delicious flavors, is low-calorie, travel-friendly, and affordable!

What’s your backstory and how did you come up with the idea?

I’m a self-proclaimed cocktail connoisseur and would enjoy bar hopping and trying new cocktails during my 6-year stay in New York. Soon after I returned to India the pandemic hit and there were no more cocktail bars to go to.

I tried to satisfy my craving for a good Pina Colada or Cosmopolitan at home. I gathered a bunch of ingredients and tools, found a Youtube tutorial, and still failed miserably at making something appetizing.

That’s when the idea of Sippin’ was born.

Can you walk us through the process of creating your product from ideation to launch?

I surveyed over 200 people of different demographics to figure out their drinking preferences. I used this data to decide my flavor combinations, and chose to keep the product low-calorie, and in powdered form for ease of travel. I then looked for flavor suppliers, and shortlisted 2 companies in Switzerland and Germany to get the best quality ingredients. I then started developing the products and did tasting sessions with friends and family to zero down on the best-tasting mixers.

I worked simultaneously on the branding and packaging, which I wanted to keep very colorful, playful, and eye-catching.

How hard or easy was the 1st customer?

I received a great response immediately. I did a small launch activity for friends and family, where I sent them Sippin’ boxes, outlined postcards, and color pencils, for them to color on while Sippin’ on cocktails. People started posting about these on social media, and I got my first few customers on the day of!

What was the revenue for month 001?

Rs. 35,000

How are you doing today and what does the future look like?

We have come a very long way since that first day. We are now available on our website, Amazon, Swiggy Instamart, Big Basket, Cred, and over 50 stores throughout the country. We have expanded our product line to include cocktail garnishing, bar accessories, gift boxes, etc. We are expanding our offline retail presence as well as offering our products to hotels, restaurants, and cafes for them to expand their beverage offerings!

What platform/tools do you use for your business?

Shopify for our website, Amazon, Instagram, Youtube, Linkedin, and a bunch of SAAS-based platforms for marketing.

Which books, podcasts, or other resources have had the greatest impact on your personal or professional development?

I read and watch a lot of videos on Astrophysics because I’ve always been fascinated by the mysteries of the universe. I think it helps me put things into perspective and manage stress. I highly recommend the book ‘Astrophysics for people in a hurry’ by Neil Degrasse Tyson or Youtube videos by BigThink and Michio Kaku.

Advice for other entrepreneurs who want to get started or are just starting out?

Talk to as many people as possible and learn about their journeys and mistakes, so you can apply them to your own venture. The life of an entrepreneur is quite unnerving and lonely, so asking for help and reciprocating wherever possible is extremely important for growth.

IMPROVEMENT SIP

The Dark Side of Success: Why Survivorship Bias is the Biggest Loser

Survivorship bias affects many aspects of our existence, including business, athletics, and personal development.

It causes us to assume that successful people’s plans and tactics are the only way to achieve success while dismissing the innumerable individuals who have tried and failed using the same ways.

In the words of Nassim Taleb, author of “The Black Swan: The Impact of the Highly Improbable,” survivorship bias is “looking at the world with a filter that only shows you the successes.” This can be dangerous because it leads us to believe that the path to success is clear and straightforward when in reality, it’s often full of obstacles and setbacks.

In the area of entrepreneurship, one example of survivorship bias can be found. As previously said, pointing to successful entrepreneurs such as Richard Branson, Bill Gates, and Mark Zuckerberg and assuming that dropping out of school is the route to success is easy.

However, as noted by entrepreneur and author James Altucher,

“For every Bill Gates, there are a hundred thousand people who dropped out of school and did nothing.”

Another example is in the fitness industry. Many fitness gurus will tout a specific workout routine or diet plan as the key to success, often using themselves or other successful athletes as proof. However, as pointed out by author and fitness expert James Fell,

“For every successful person who followed a particular diet or workout plan, there are countless others who did the same thing and saw no results.”

Survivorship bias is also visible in the stock market, as investors frequently look to successful companies and expect that investing in similar companies will result in success.

However, as economist Tim Harford points out, “It’s easy to look at the stock market and only see the winners, but we forget about the losers. There are innumerable other startups that failed for every Apple or Amazon.”

HOT SIP

Tech Industry Layoffs: The Story Behind the Headlines

What’s sipping? ☕ If you ask engineers and employees in the tech industry, they would likely highlight that the entire sector is sailing through rough waters. The tech companies like Google, Meta, Amazon, Microsoft, Cognizant, IBM, and others are firing thousands of employees, and it seems no one in the industry can take their job security for granted.

📈 Profits and Revenue Continue to Rise 📈

Despite the layoffs, tech giants like Google, Microsoft, and Amazon continue to report strong profits and revenue growth. In 2022, Google recorded annual revenue of $279.8 billion and a profit of around $60 billion before taxes, more than the entire GDP of some countries.

Microsoft’s revenue for the 12 months ending March 31, 2023, was $207.591B, with a profit of around $63 billion before tax. Amazon, which tends to operate at a zero-profit-zero-loss idea, declared an income of around $2 billion in 2022, with revenue of $524.897B, a 9.87% YoY increase.

📉 Layoffs Due to Overhiring, Restructuring, and New Plans 📉

While tech CEOs have often cited cost-cutting and poor business outlook as reasons behind layoffs, the data shows there may be more to it. Correcting overhiring and getting rid of employees who no longer fit into new plans are two major reasons for the layoffs.

💡 Tech Companies Want AI Engineers 💡

Another reason is that tech companies are trying to attract and retain AI engineers, who are in high demand. The layoffs may be a way to make room for new hires with specialized skills.

In conclusion, the tech industry layoffs are a result of multiple factors. While profits and revenue continue to rise for most companies, they are restructuring and streamlining their operations to remain competitive in a rapidly changing landscape.

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With CHAI ☕

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It’s hard to grow beyond something if you won’t let go of it.
— James Clear (@JamesClear)
6:08 PM • May 4, 2023